posted on Jan, 20 2013 @ 11:41 AM
WASHINGTON — Just two weeks after pleading guilty in a major federal fraud case,
Amgen, the world’s largest
biotechnology firm, scored a largely unnoticed coup on Capitol Hill: Lawmakers inserted a paragraph into the “fiscal cliff” bill that did not
mention the company by name but strongly favored one of its drugs.
Senators Max Baucus, left, and Orrin Hatch, in June at a Finance Committee meeting, have received contributions from Amgen. The language buried in
Section 632 of the law delays a set of Medicare price restraints on a class of drugs that includes Sensipar, a lucrative Amgen pill used by kidney
Fiscal Footnote: Big Senate Gift to
The provision gives Amgen an additional two years to sell Sensipar without government controls. The news was so welcome that the company’s chief
executive quickly relayed it to investment analysts. But it is projected to cost Medicare up to $500 million over that period.
We got the Affordable Care Act, the largest corporate bailout in history, making sure that fat insurance companies get even fatter by forcing citizens
to give them money and, by extension, bailing out big pharma in the process.
Then we get HSBC not only laundering money for al Qaeda, but also Mexican drug cartels, they get no charges, just a pocket change fine.
Now we have Amgen, who was fined $745 million for fraud, getting back $500 million for their troubles.
"Make them pay their fair share" indeed.